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Why Buyers Choose Me: Why homebuyers in the
Castro Valley, Alameda, and San Leandro area choose Carol Kennedy as their
Realtor |
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Latest Listings: Get
Carol Kennedy's latest Castro Valley, Alameda, and San Leandro listings of homes for sale
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Find Your Perfect Home: Carol Kennedy will
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listings of properties |
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First Time Homebuyers: Are you a first time
homebuyer in Castro Valley, Alameda, and San Leandro, CA? As a top Realtor,
Carol Kennedy can guide your home buying search |
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Financing Your Home >Watch Your ARMs Length Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.
First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.
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| Q |
Where is the world's longest spiral staircase?
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The White County Coal Mine in Carmi, Illinois has a spiral staircase that measures 1,103 feet and has 1,520 steps. |
 See More Real Estate Trivia > |
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 Compare three mortgages
at one time. Download TripleCalc now. It's free. |
Carol Kennedy is one of The Top
Selling Real Estate Experts™
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MARKET YOUR PROPERTY IN 13 LANGUAGES.......... All Real Estate Professionals Are NOT The Same.
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- NUMBER1EXPERT™ 
